Authorizing $1,550.000 Economic Development Technologies Corp Project

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"Adjusted LIBOR Rate" shall mean, with respect to each Interest Period, the per annum rate of interest determined pur- suant to the following formula: Adjusted LIBOR Rate = LIBOR 1 - LIBOR Reserve Percentage "LIBOR" shall mean, with respect to each Interest Period, the per annum rate of interest (to be expressed as a decimal for purposes of calculation) as determined by the Bank [rounded upwards, if necessary, to the nearest whole multiple of one - sixteenth of one percent (1/16 %)] at which deposits of United States dollars in immediately available and freely transferable funds would be readily offered at 11:00 A.M., London time, two (2) London Banking Days prior to the day on which such Interest Period commences, by the London offices of major banks to other major banks in the London interbank market in an amount equal to $1,000,000 to be outstanding during such Interest Period, adjusted to reflect any maturities of this Bond during such Interest Period. "LIBOR Reserve Percentage" shall mean, with respect to each Interest Period, the reserve requirement (to be expressed as a decimal for purposes of calculation) imposed by the Board of Governors of the Federal Reserve System (or any successor thereto) under Regulation D on Eurocurrency liabilities (as such term is defined in Regulation D) for the applicable Interest Period as of the day on which such Interest Period commences, but taking into account any transitional adjustments thereto becoming effective during such Interest Period. "London Banking Day" means a day on which banks are open for business and quoting interest rates for United States dollar deposits in the London interbank market. "Base Rate" shall be determined as of the day on which any Interest Period commences, as follows: [Adjusted LIBOR Rate] + [Adjusted LIBOR Rate x TEFRA Disallowance Deduction x [Federal Tax Rate + State Tax Rate - (Federal Tax Rate x State Tax Rate)] divided by [(1 - State Tax Rate) x (1 - Federal Tax Rate)]]. "Business Day" shall mean a day on which banks in the City of Chicago, Illinois, are open for the general conduct of business, provided, that when used with respect to Fixed Rates based upon the Adjusted LIBOR Rate, such day shall also be one on which banks are dealing in dollar deposits in London, England, and banks are open for business in the City of New York, New York. "Federal Tax Rate" shall mean the maximum incremental percentage rate (to be expressed as a decimal for purposes of calculation) from time to time applicable to the taxable income of any ordinary business corporation imposed under Section 11 of the Internal Revenue Code of 1954, as amended (the "Code "), or any successor thereto. -14-